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Notes to consolidated financial statements (audited)
International Business Machines Corporation and Subsidiary Companies

I. Investments and sundry assets

($ in millions)
At December 31: 2008 2007*

* Reclassified to conform with 2008 presentation of deferred taxes, previously combined in investments and sundry assets.

** Deferred transition and setup costs and other deferred arrangements are related to Global Services client arrangements. Also see note A, “Significant Accounting Policies,” for additional information.

+ See note L, “Derivatives and Hedging Transactions,” for the fair value of all derivatives reported in the Consolidated Statement of Financial Position.

Deferred transition and setup costs and other deferred arrangements** $1,548 $1,475
Derivatives — noncurrent+ 1,117 259
Alliance investments:    
Equity method 167 271
Non-equity method 285 879
Prepaid software 370 221
Long-term deposits 277 285
Marketable securities 6 531
Other assets 1,289 1,327
Total $5,058 $5,248
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